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#2220710 - 08/29/19 08:14 PM No Longer in Business - Gross Annual Revenue?
CRA Fan Offline
Junior Member
Joined: Apr 2016
Posts: 25
We've got several workout loans for businesses that are no longer operating. How would you report GAR?

Does GAR = 1 (less than or equal to $1MM) because revenues are $0?

- Or -

Does GAR = 3 (unknown) because there is no business, therefore, no revenues (not even zero)?

Thanks!

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#2220725 - 08/30/19 04:41 AM Re: No Longer in Business - Gross Annual Revenue? CRA Fan
Len S Offline
Diamond Poster
Joined: Oct 2004
Posts: 2,090
Connecticut
You are supposed to be reporting loans you originate or purchase. Are you extending or refinancing loans to businesses that no longer exist?
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#2221655 - 09/16/19 07:10 PM Re: No Longer in Business - Gross Annual Revenue? CRA Fan
CRA Fan Offline
Junior Member
Joined: Apr 2016
Posts: 25
Hi, Len - the loans are renewals to businesses that are still registered as businesses but no longer operating, and therefore, do not have revenues. I would think we can report GAR as 1 (less than or equal to $1MM) because revenues are $0 but would be interested to know how others would treat these loans.

Thanks!

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